Press release
Sales Of Fishing Lure Will Expand 1.6X In Terms Of Value, And Is Foreseen To Witness A Steady Growth Rate 5% By 2030
Because most fisherman are remaining indoors due to the outbreak of COVID-19, sales are dropping. Manufacturers are using digital technology to engage clients online and to get around this problem. As a result, the pandemic outbreak has caused consumers to pay more attention to e-Commerce platforms. Over the course of the forecast period, this will consequently increase demand for fishing lures.The number of anglers has expanded significantly over the world, which has led to a rise in demand for fishing equipment and gear, including fishing lures. Over the projected period of 2020 to 2030, it is expected that this trend would persist and drive up demand for fishing lures. Furthermore, the NMMA reported that the recreational boating industry generates an estimated US$ 170.3 billion in economic activity for the U.S. economy, making fishing one of the expanding outdoor leisure activities. For businesses in the fishing lure market, which is predicted to grow at a value CAGR of roughly 5% over the next ten years, this is projected to open up a wide range of opportunities.
๐๐ผ๐๐ป๐น๐ผ๐ฎ๐ฑ ๐ฎ ๐๐ฟ๐ฒ๐ฒ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐๐ผ๐ฝ๐ ๐ผ๐ณ ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.factmr.com/connectus/sample?flag=S&rep_id=5293?PS
๐๐ฒ๐ ๐ง๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ถ๐๐ต๐ถ๐ป๐ด ๐๐๐ฟ๐ฒ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฆ๐๐๐ฑ๐
โข The global fishing lure market is projected to create an absolute $ opportunity of more than US$ 1.2 Bn, and is anticipated to surpass a valuation of US$ 3.3 Bn by the end of 2030.
โข By fishing type, freshwater fishing is set to hold a share-wide market dominance with over 64% of the total market value by the end of the forecast period.
โข By type, spinnerbaits are projected to expand at a value CAGR of nearly 6%, and are expected to be valued 2.5X than spoons by the end of 2020.
โข By length, 5 inches fishing lure is anticipated to grow, gaining 630 BPS over the course of the forecast duration.
โข The fishing lure market in Europe is expected to progress by experiencing a value CAGR of 2.7%, whereas North America is projected to be valued 7.3X times than South Asia & Oceania, and estimated to account for a major chunk of the demand pie by the end of the forecast period.
"Large-scale closure of OEM plants in USA and Europe will have short-term implications on the growth of the fishing lure market. However, swift growth in the number of recreational fishing activities and rising fishing boat sales in developed regions are anticipated to lead to larger benefits during the forecast duration," says a Fact.MR analyst.
๐๐ฒ๐ ๐๐๐๐๐ผ๐บ๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐ผ๐ป ๐๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.factmr.com/connectus/sample?flag=RC&rep_id=5293?PS
it is anticipated that sales of fishing lures through fishing supply stores would account for more than 29% of the fishing lure market in 2020. Due to the variety of options available in stores, anglers frequently upgrade their fishing lures in an effort to draw in more fish. This helps to promote the sales of fishing lures through fishing supply stores. In order to effectively sell their products and obtain a competitive edge over rivals in the fishing lure market area, producers are also concentrating on working directly with fishing supply retailers.
๐ฃ๐ฟ๐ผ๐ฑ๐๐ฐ๐ ๐๐ฎ๐๐ป๐ฐ๐ต๐ฒ๐ ๐๐ผ ๐๐ป๐ต๐ฎ๐ป๐ฐ๐ฒ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฅ๐ฒ๐๐ถ๐น๐ถ๐ฒ๐ป๐ฐ๐
Key players in the fishing lure market are Bass Pro Shops, Shimano Inc., Pure Fishing, Inc, Rapala VMC Corporation, Clam Outdoors, GLOBERIDE, Inc., Al Gags Fishing Lures , Al's GoldFishing Lure Co. , Weihai Guangwei Group Co., Ltd., Piscifun, Bee-Jay Bait, Eagle Claw, Bay de Noc Lure Company, and Bagley Bait Company LLC., among others.
Key players in the market are continuously focusing on product innovation to gain market share and create a USP in this highly competitive market space. In the recent past, the fishing lure market has seen numerous innovations. For instance,
โข In 2020, Berkely, a brand of Pure Fishing Inc., launched its new jigs. The newly launched product gives a photo-realistic finish and an ultrathin tail, which can kick with the slightest rod movement or current.
โข In 2020, 13 Fishing introduced its newly launched Pathfinder- Hybrid Walking Bait. This bait is designed to produce a top water delivery and is integrated with heavy duty hooks, internal rattles, and hybrid construction, and is engineered for fishing supremacy.
Find More Valuable Insights on Fishing Lure Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global fishing lure market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges compelling insights on the fishing lure market based on type (jigs, combined lures, spoons, soft plastic baits, flies, spinnerbaits, and crankbaits), fishing type (freshwater fishing, saltwater fishing, and great lake fishing), length (less than 4 inches, 4 inches, 5 inches, and more than 5 inches), and sales channel (sports outlets, modern trade channels, fishing supply stores, online retail [company websites and third-party online], and other channels), across six regions.
๐๐ฒ๐ ๐๐๐น๐น ๐๐ฐ๐ฐ๐ฒ๐๐ ๐ผ๐ณ ๐๐ผ๐บ๐ฝ๐น๐ฒ๐๐ฒ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.factmr.com/checkout/5293PS
๐๐ฒ๐ ๐ฆ๐ฒ๐ด๐บ๐ฒ๐ป๐๐ ๐ผ๐ณ ๐๐ถ๐๐ต๐ถ๐ป๐ด ๐๐๐ฟ๐ฒ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐
Fact.MR's study on the fishing lure market offers information divided into five key segments-type, fishing type, length, sales channel, and region. This report offers comprehensive data and information about important the market dynamics and growth parameters associated with these categories.
By Type :
โข Jigs
โข Combined Lures
โข Spoons
โข Soft Plastic Baits
โข Flies
โข Spinnerbaits
โข Crankbaits
By Fishing Type :
โข Freshwater Fishing
โข Saltwater Fishing
โข Great Lake Fishing
By Length :
โข Less than 4 Inches
โข 4 Inches
โข 5 Inches
โข More than 5 Inches
By Sales Channel :
โข Sports Outlets
โข Modern Trade Channels
โข Fishing Supply Stores
โข Online Retail
โข Company Websites
โข Third-party Online
โข Other Channels
By Region :
โข North America
โข Latin America
โข Europe
โข East Asia
โข South Asia
โข Oceania
โข Middle East & Africa (MEA)
Conatct:
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